One of the most well-known facts about investing is that dividend-paying stocks far outperform their non-dividend-paying counterparts over the long term. It is for this reason in particular that every long-term investor should own at least one dividend-paying stock, and depending on your age and investment goals, maybe a diversified portfolio full of them. With this in mind, let’s take a look at three stocks with yields up to 8% that you should consider buying right now.
1. Rogers Sugars Inc.: 8% yield
Rogers Sugar Inc. (TSX:RSI) is one of the largest manufacturers and distributors of sugar products in Canada. It pays a quarterly dividend of $0.09 per share, or $0.36 per share annually, giving its stock an 8% yield at today’s levels. Investors should also note that the company has maintained this quarterly payment since the second quarter of fiscal 2012, but its increased amount of free cash flow could allow for an increase in the very near future.
2. Royal Bank of Canada: 4% yield
Royal Bank of Canada (TSX:RY)(NYSE:RY) is the largest bank in Canada in terms of total assets, with over $1.03 trillion in total assets. It pays a quarterly dividend of $0.77 per share, or $3.08 per share annually, which gives its stock a 4% yield at current levels. It is also important to note that the company has increased its dividend four times in the last eight years, making it one of the top dividend-growth plays in the market today.
3. Corby Spirit and Wine Ltd.: 3.6% yield
Corby Spirit and Wine Ltd. (TSX:CSW.A) is one of Canada’s leading distributors of spirits and imported wines. It pays a quarterly dividend of $0.19 per share, or $0.76 per share annually, giving its stock a 3.6% yield at today’s levels. The company has also increased its annual dividend payment for four consecutive years, and its consistent free cash flow generation could allow this streak to continue for the next several years.
Which of these top dividend stocks belongs in your portfolio?
Rogers Sugars, Royal Bank of Canada, and Corby Spirit and Wine are three are the top dividend stocks in the market today. All long-term investors should take a closer look and consider buying one or more of them.
